Money News

Brits finding their finances stretched, says survey

The majority of people in the UK are finding that their finances are being stretched by the continuing economic downturn, according to a new survey.

Published by Fairinvestment.co.uk, the poll reveals that 63 per cent of Brits are finding the times tough financially.

The price comparison website also found that ten per cent of those feeling the pinch are currently struggling to pay their mortgage and seven per cent say they have been made redundant.

Sharon Bratley, chartered financial planner at Fairinvestment.co.uk, said: "If the Chancellor were to guarantee jobs and offer job security in times when seven per cent of workers are finding themselves made redundant, spending and confidence - both essential to a recovery - may well resume."

Alistair Darling is due to unveil his budget for the coming year today, which may include measures aimed at easing the burden on those struggling to meet mortgage payments.